2012-11-21
2012-11-21
STATION
MSNBCW 6
CSPAN 4
CNBC 2
CNNW 1
LANGUAGE
English 16

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and merciful. but he may not be so nice with the republican. turns out, speaker john boehner is back to his old tricks, refusing to compromise in the debt talks and holding the middle class hostage. even right after the election two weeks ago, he was all sunshine and smiles. >> i'm the most reasonable, responsible person here in washington. the president knows this. he knows that he and i can work together. the election is over, now it's time to get to work. it's pretty clear that the president was re-elected. obama care is the law of the land. >> i'm reasonable. i'm responsible. obama care's the law of the land. now, there's a guy the president can work with, right? wrong. politico says that boehner's opening offer to the president is to keep the bush tax cuts, cut entitlements, and postpone cuts to the pentagon. in other words, they haven't budged at all. how is that compromise? how is that reasonable? but it gets worse. speaker boehner now says the health care law should go under the knife. boehner says, quote, we can't afford it. we can't afford to leave it in tact. that's why i've been cle

've been defeated on this. what has to change is their attitude on this. >> oh, is john boehner going to be pissed when he finds out mitt romney lost the election. if they let him out of that time machine, he might be something. the thing i find humorous about this, as well as about the whole issue of taxes and whether or not we should repeal the bush tax cuts, is that republicans do seem to have decided that the election that just happened didn't really happen. and that they are going to propose pretty much all of mitt romney's ideas as their negotiating starting point. well, we just -- >> we needed paul ryan actually to help get the job done. >> even having paul ryan talk about it. it's amazing. they decided while mitt romney lost the election, his ideas, they think won. i don't know how they get there. >> i feel like what they're trying to do is say, we lost, never mind but we're going to keep doing what we do. if we keep saying it enough, maybe -- >> i read that -- john boehner's op-ed pretty carefully. here's one thing he said. he said there are three ways to take down obama care

taxes and fix the economy. >> john boehner says we can cap deductions, probably produce $400 billion coming up pretty fast. no change in tax rates. so it is not a flat tax reform but no increase in marginal tax rates. can you and your pledge, with the pledge be okay with the bay nor plan to increase revenues by capping deductions? he has not endorsed raising taxes nor did he a year ago. if you eliminate deductions now, you have destroyed the opportunity for tarx reform a year ago. they are not available to reduce tax rates. >> so you are opposed to it. it is bad for the economy and it destroyed our effort to get tax reform down the road. >> i have talked to staff and remembers and they don't need to hear it from me, they know that lower marginal tax rates are necessary for growth and the only way to get the revenue to pay down obama's debt. >> help me out, in effect, is the plan to put a cap on deductions, does his plan break the americans for tax reform no-tax pledge? >> to be clear. john boehner has not said that. he says he is for revenues from growth. i'm for that. that is a tax

appointed, new right young thing of the party and listening to john boehner's comments when asked if he's the leader of the party, there's disagreement in the party and bears remembering every time we have done this in the past election cycles, thought object who the likely candidates were, almost none of them ended up being the likely candidate. mitt romney is an exception and perceived to be a credible front-runner of 2012 and tim pawlenty. >> experience of '08? >> yeah. my point is -- >> traction. >> we project forward based on who's the luminaries now. it often is someone we're not looking at under current dynamics and doing 18 or 19 i guess the likelihood of one of the 20 the people -- >> primaries again. now let's talk about the fiscal cliff and house and senate leaders expected to meet with the president next week and hopefully negotiations will continue. staffers reportedly have made little progress over the last week. politico is writing this saying that the gop's opening offer, the sources said would freeze the bush era tax rates, change the inflation can clated for entitlemen

want to see congress work together on this. president obama says he wants to. john boehner says he wants to. there you have the titans of industry in new york with their rich, mahogany furniture all saying we need to solve this crisis. yet here we are a few weeks away and we're still both sides sticking to their negotiations. there hasn't been a lot on what specifically would you do. this is going to be tight. >> it's going to be tight and everybody should brace themselves before the fiscal cliff comes the fiscal roller coaster and it's going to look dark before either it's totally black as senator mccain likes to say or before it gets done. my bet actually is on getting things done, but i have to say what's depressing about listening to chairman bernanke is how many times we've heard those words before about the last fiscal crisis, whether it's debt ceiling or something else, it really is time for congress to show it can get something done. >> this seems to poll very well, this bipartisanship. you know it. how come there's such difficulty both sides really not willing to nudge off

that the problem is that you have john boehner, president and mitch mcconnell negotiating with the exact same congress that they had when they couldn't make a deal the last time. so i think until the personnel change, i'm not sure you can get a deal. >> and juan kessler, the fact checker for "the washington post," has reported that, you know, you have to come from, like, some point point. you have to have a negotiating point to start with. he said democrats and republicans haven't even agreed on a baseline yet. they're about $3 trillion apart because of ending the wars, medicare, other cuts. so how do you come to some agreement in what is a numbers game really if you don't even have a number to start with? >> i think one of the things we'll see happen here is the idea of a grand bargain, of one deal that gets all this stuff averted between now and -- it's not going to happen. it doesn't seem that there's anything that would suggest that they'll be able to get to that point of putting this all together into one deal. so what will happen is they'll figure out some solution that gets us past the

in elections in years to come. i think that they realize from john boehner the speaker of the house to mitch mcconnell somewhat in the senate. on down, that the kinds of extreme policies that we saw in the republican primary, mitt romney, rick santorum, michele bachmann et cetera those policies are not going to win over hispanics. they're not going to win over asian americans. >> jennifer: you are not going to see i predict a super pac that is a pro-choice republican super pac though, right? that's an issue they won't touch. >> i believe that abortion is an issue that they will not touch. they -- they saw what happens when you anger women voters in this country independents, republicans and democrats but abortion i think -- the republican party is not there yet. i don't know if they will ever get there. >> jennifer: well instead of republican moderates, shouldn't we just issue democratic cards to the membership, cards to the democratic party? i don't see how they're going to do it. you have mayor bloomberg's super

will look like when these conversations between the president and speaker john boehner are done? what will look like when they are done? >> i think we will have slightly higher marginal tax rates on some -- at least one high income tax bracket and i think there will be a variety of tax and exclusions and deductions that are scaled back modestly and that's about it. >> it scaled-back means capt. someone, i agree completely. ." >> i think we will see some of those things rolled back. i think the top rate will be in between 39 and 45%. >> we have some common ground among our economists where we will end up. thank you for joining us and thank you all. i appreciate the pedersen foundation to participate. >> as i have contemplated how the burlington -- the meeting to close, i remember a nobel prize winner at the university of chicago where it was presumably educated used to say if you have no alternative, you have no problem. i thought about the alternative of delivering what i'm sure you would love to hear -- a 30- minute lecture or simply saying thank you very much. deeply appreciate the

john boehner the former congressman jesse jackson junior prioritizes his health as the reason he is stepping down. he does acknowledge the investigation that dogged him. writing i have made my share of mistakes and aware of the ongoing federal investigation in my activities and doing my best to address the situation responsibly. cooperate with investigators and accept responsibility for my mistakes. they are my mistakes and mine alone. they talk about skimming campaign found remodel his house and buy expensive jewelry for a mist res. he was investigated by the investigating committee after being caught up in the blagojevich scandal. he met with businessmen who raise money for blagojevich if jackson were appointed to the senate seat vacated by president obama in 2008. >> they feel like they can do this [bleep] to do anything under the vague assurances, or something, then i'll [bleep] jesse junior. >> this is a long fall for a congressman initially thought to be a rising star on capitol hill. with terrific name recognition and invitation to address the national convention four year

letter of resignation to speaker john boehner. they confirmed that today and he write it is move will set off a scrammle to fill the seat in the chicago area. pat quinn will have five days from the effective date of the resignation to announce the time of the special election. jesse jackson jr. resigning his seat in congress. we'll keep you posted on that. and we said we would take you live to the united nations at 3:00 this afternoon. that has been pushed back likely in response to the news of the ceasefire in israel today. that has been pushed to 3:30 eastern. we will take you there once it gets under way. >> james on our 65 and over line. good afternoon, sir. caller: i'm 85-year-old and i was living good up until the last four years off of my retirement. but in the last four years the cost of living has gone up so much that i can't make it. i have to get out and get odd jobs to buy groceries. and this -- the first of this year i got a 1.7 increase in social security and cost of living went up 30% this year. host: what is the biggest thing that cost of living increase affects for you? c

: that is your congressman? caller: yes. john boehner and nancy pelosi need to get together, organized all the votes they need to pass the bill that is already passed through the senate, which is the 250,000 and below, maintain the bush tax cuts. if they did that and went ahead and passed that bill, that would put the issue of the other foot -- the shoe on the other foot in regard to congress would show good faith in the effort to avoid the fiscal cliff. that would force the democrats to seriously look at fiscal reduction. it would demonstrate the fairness aspect of the rich paying a little more. but it would force the democrats to seriously look at entitlements. this could really be a big step in avoiding the fiscal cliff and would give confidence, makes for a good holiday season. it is the thing to do. john boehner and nancy pelosi need to get together, get the votes, and pass the senate bill. host: i want to take you to the republican line. pat in richmond hill, georgia. caller: good morning. yes, overall, in the long term, i have a lot of confidence in the u.s. economy. short-term, as

to house speaker john boehner just a little more than two weeks after winning re-election. and an extraordinary moment in basketball. a great game would be a player scoring in the high double digits. but what about scoring in, get this, the triple digits? that's what grinnel colleges jack turner did. his teammates kept passing him the ball. grinnell college sophomore jack taylor kept sinking it. again and again and again. 138 points against faith baptist bible college topping the national record that has stood for more than five decades. >> coming into the game, my teammates and my coaches wanted to get me some more shots to try to get my confidence going before we enter conference play. and so i knew i was going to get a few more shots than usual. >> at halftime he had 58 points. his second half even better with 80 points. >> there's a point in the second half where i hit seven or eight threes in a row on consecutive possessions. and at that moment i kind of knew something special was happening. >> taylor thanks his teammates for their unselfishness, but you can

people like john boehner say that mr. president, he won the election, it's time for you to lead well. >> we have to face reality that the american people gave the president a do over. the house and the senate, the same position we were in two months ago. the american people may have given the government a do over, but they don't expect a status quo. they want decisions to be made in a bipartisan manner. republicans are willing to meet the president halfway. but he is the leader of the country and it's up to him to propose a plan. it is up to him to provide negotiations and coalesce the deal. a deal can be made and all parties have to come together. we have to give up some revenue. they have to give up some spending. at the end of the day, it is probably a very good deal. jon: are you hearing any whispers as to what kind of shape this deal could take? >> i think it's pretty clear that they're going to do something that will get us past the fiscal cliff. they will open themselves that they are kicking the can down the road. what they want to do is have longer-term negotiations about th

but that will happen. the market will be going up and down on small indicators. is john boehner smiling or frowning today? we'll have a lot of volatility for the next two or three months because i do think it's going to be two or three months. i think this is going to go into january. i think close to a 50% chance we'll go over the fiscal cliff temporarily. the market won't react well to that so it's going to be very, very bumpy couple of months here. >> that said, seasonally, i was told not too long ago, the period between thanksgiving week and december 3rd, the past 20 years has been positive for stocks for 17 of those 20 years. is there going to be any kind of hope for a santa claus rally here, michael? >> i think there is. that's simply because pessimism has reached a level of extreme that historically has led to higher markets over the next three months 81% of the time. the average market gain when pessimism has gotten to this low a level has been about 7%. i think when you look at the basic, you know -- we have three rules to guide our tactical trading. don't fid the fed. obviously on our sid

when the president says he wants to see higher tax rates. john boehner says clearly not. >> it is a lot easier to say at this level of generality. it becomes harder to enacted. the number of times of with the head of the cbo, senator so and so would call me up and say i want to talk about tax reform and i would walk in and the head is one talking point which is brought in the base and lower the rate. what are you willing to scale back? mortgage interest, cannot touch that. charitable, cannot touch that. you go down the list. one of the reasons of these new ideas being attractive is a are obscuring what has to be cut back. >> there is still a hard choice there. >> we are not saying we are going to cut out your ability to deduct your mortgage but i will get to keep my ability to deduct my local tax. everything goes into a pot. everybody gets to keep their deductions but you cannot be too greedy about it. it does have to limit the amount they can benefit from it. >> that is the selling point. >> the notion here, can you do this and have the only effect of the wealthiest americans -- affect

. when will john mccain -- when will speaker boehner just stop and move on? >> richard, doesn't this go to the point heather was making which is we had an election, elections have consequences. >> right. >> and unless you're the house republican majority, in which case maybe they don't, david fromme, a recovering conservative of sorts made a political observation that in the last six presidential races, republicans have won a majority of the votes, exactly once in 2004. here we are again in a post-minority moment, and they are acting like they have the biggest mandate ever. >> yeah. you know, they're asking for the cranberry sauce when they need to cook the turkey first. they need to have the deal done, do the work, and then think about the rest of the agenda. all the trimmings of the, you know, health care and everything else they want to do. first thing's first. compromise. they know this is going to happen. this is the head fake. this is them saying, we really are trying to go for something else, but first of all, we've actually got to compromise because we lost. >> who's the head fa

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